S. 92C : Transfer pricing-Arm’s length price-Comparable-Turnover filter-Having small turnover-Cannot be compared with giant companies having huge turnover-Matter remanded.
S. 92C : Transfer pricing-Arm’s length price-Comparable-Turnover filter-Having small turnover-Cannot be compared with giant companies having huge turnover-Matter remanded.
S. 70 : Set off of loss-One source against income from another source-Same head of income-Long term capital loss-Non-Resident-ownership of shares was transferred-consideration was paid and transaction was complete-Benefit of long-term capital loss set-off cannot be denied. [S. 45]
S. 69A : Unexplained money-Search and Seizure-Jewellery seized-Below limit prescribed by CBDT Circular No 1916, dt. 11-5-1994-Addition was deleted. [S. 132]
S. 68 : Cash credits-Non-Resident-Remittance from abroad-Money brought in India for investment-Addition cannot be made as cash credits. [S. 5]
S. 68 : Cash credits-Share application and share premium-Received earlier year-Addition cannot be made in the current financial year.
S. 68 : Cash credits-Unproved purchases-Reconciliation statement was filed-Custom duties paid-No addition can be made. [S. 143(3)]
S. 68 : Cash credits-Brought forward creditors from earlier financial year-Addition cannot be made as cash credits for the relevant assessment year.
S. 68 : Cash credits-Unsecured loan-Confirmation, financial statements and bank statements of creditors were produced-Addition is held to be not justified.
S. 68 : Cash credits-Bank account-Cash flow statement-Unexplained income-Peak credit-Directed to grant peak credit.
S. 68 : Cash credits-Regular books of account maintained-Commission income cannot be assessed as unexplained cash credits. [S. 132]